Policy & Resources Committee raises sanctions awareness

Friday 26 April 2024

The Policy & Resources Committee is promoting awareness of the international sanctions, against countries, organisations and individuals, which apply in the Bailiwick.

The Committee also wishes to ensure that the public is aware of measures taken to counter the financing of terrorism and the financing of the proliferation of weapons of mass destruction.

The Committee is the competent authority in the Bailiwick for the purposes of international sanctions.

The relevant authorities, financial services businesses, other relevant businesses and internationally active charities or other non-profit organisations are already fully informed and aware about the sanctions which apply and the actions that they need to take.

However, the application of sanctions is not confined to these parties and may be relevant to any form of activity carried out within or from the Bailiwick where there is a cross-border link. Awareness of sanctions is therefore important for all Bailiwick individuals or entities whose activities have an international element.

Members of the public can access the comprehensive information already available on the sanctions regime via the government of Guernsey website, at www.gov.gg/finance-sanctions. Guidance and training material is also provided.

The information on the international sanctions regime is also available on the Guernsey Financial Services Commission's website, at www.gfsc.gg/news/sanctions.

This information is updated on a timely basis as changes are made to the sanctions regime, including the designations of individuals. Anyone with reason to believe that they may be affected by sanctions should familiarise themselves with the published information and take any measures that may be necessary to ensure they comply with any relevant sanctions regime.

If Bailiwick of Guernsey residents have questions about the sanctions regime and those sanctions currently in force, or have any specific training requirements on sanctions, they can contact the government's Sanctions Team by emailing [email protected].

Deputy Lyndon Trott, President of the Policy & Resources Committee, said:

'Guernsey can be rightly proud of the role it plays regarding the implementation and administration of international sanctions. Being in lockstep with the UK on sanctions and aligning with the UK's foreign policy is an important part of our constitutional relationship with the Crown (which is through the UK Government). Our financial service sector and related industries are already aware and fully engaged on the implementation of sanctions. However, as global security becomes increasingly threatened by terrorism and the risk of proliferation of weapons of mass destruction, I would encourage all of the business community and members of the wider public to have knowledge of the Bailiwick's sanctions regime.

'This is relevant for those undertaking all types of business activities as well as those who have their own personal investments. The whole island should be aware of the leading role that we play in the international community in countering terrorism financing and proliferation financing. This helps ensure that everyone continues to play a part in that.'

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